NNN Burger King with Recent Renewal
61688 Southgate Parkway, Cambridge, OH, 43725
For sale to qualified investors is the 100% fee-simple interest in the Burger King ground lease located just off Interstate 70 in Cambridge, Ohio. Built in 1997, this Burger King is owned and operated by one of the largest restaurant franchisees in the nation, Carrol’s Corporation. Carrol’s owns over 1,000 Burger King units in addition to other national restaurant concepts. They just exercised a renewal with a 25% rental increase, showing their dedication to the site. The lease currently has nearly 6 years of guaranteed term remaining plus options (also with 25% increases). Under this ground lease Burger King is responsible for all maintenance and repair, including roof and structure - making this a 100% hands-off asset for the investor. The passive nature of this lease combined with the strong franchisee guaranty and huge rental increases make this an ideal 1031 replacement property or acquisition for an investor desiring a passive real estate investment. The property is located off of heavily-trafficked Interstate 70 (41,598 VPD) and is shadowed anchored by Rural King (Coming: Spring-2019) and is surrounded by national retailers including Walmart Supercenter, Rural King, Marshall’s (coming soon), Buffalo Wild Wings, Arby’s, Aldi, Verizon, Bob Evans, Tractor Supply, KFC, Ruby Tuesday, McDonald’s, Denny’s, Dollar General, Big Lots, Family Dollar, Wendy’s, Tim Hortons, AutoZone and many others.